Leading German car industry manufacturer Continental on Saturday announced it had bought Hornschuch, a maker of films, foam laminates and artificial leather for cars and other applications, to help it expand into other industry sectors. Hornschuch, with sales of 410 million euros ($460 million) in 2015, has been owned since 2008 by the buyout group Equistone, formerly Barclays Private Equity. Based in Weissbach, it has 1,800 employees and manufactures at four sites in Germany and the United States.
Continental will buy Hornschuch via its subsidiary Benecke-Kaliko. It said a contract had been signed on Saturday, but that the deal was subject to approval by antitrust authorities.
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